ABB will sell 80.1 percent of its Power Grids division to Japan’s Hitachi, the Swiss engineering group said on Monday, adding it would return net cash proceeds of $7.6-7.8 billion from the deal to shareholders. The Zurich-based company, which said the transaction put the Power Grids business’s enterprise value at $11 billion, also said on […]
Day: December 17, 2018
Global investment in oil & gas production may reach around $425 bn: Report
The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report. Shaken by a sharp drop in oil prices in recent months, boards are generally expected to stick to […]
ICPA blames capacity deficiency for Air India’s loss; seeks expansion plan
Air India’s narrow-body pilots union ICPA has blamed capacity deficiency vis–vis competitors for its plunging domestic market share while seeking a long-term plan for aircraft fleet expansion at the carrier. In a letter to Civil Aviation Minister Suresh Prabhu last week, the Indian Commercial Pilots Association (ICPA) also lamented that while other domestic carriers have […]